FY2024 EPS Estimates for First Foundation Inc. (NASDAQ:FFWM) Reduced by DA Davidson

First Foundation Inc. (NASDAQ:FFWM) – Equities research analysts at DA Davidson dropped their FY2024 earnings estimates for First Foundation in a report issued on Friday, July 5th. DA Davidson analyst G. Tenner now anticipates that the bank will post earnings of $0.10 per share for the year, down from their previous estimate of $0.13. DA Davidson has a “Buy” rating and a $9.00 price objective on the stock. The consensus estimate for First Foundation’s current full-year earnings is $0.03 per share.

Other research analysts have also recently issued reports about the stock. Piper Sandler reiterated a “neutral” rating and set a $6.00 price objective on shares of First Foundation in a report on Wednesday, July 3rd. Wedbush reduced their price objective on shares of First Foundation from $6.00 to $5.00 and set a “neutral” rating for the company in a report on Wednesday, July 3rd. Raymond James cut shares of First Foundation from a “strong-buy” rating to a “market perform” rating in a report on Wednesday, July 3rd. StockNews.com upgraded shares of First Foundation from a “sell” rating to a “hold” rating in a report on Friday, April 26th. Finally, Stephens cut shares of First Foundation from an “overweight” rating to an “equal weight” rating in a report on Wednesday, July 3rd. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $8.00.

First Foundation Stock Up 0.2 %

Shares of NASDAQ FFWM opened at $5.16 on Monday. The stock has a market capitalization of $291.60 million, a P/E ratio of -1.39 and a beta of 1.34. The company has a 50-day moving average price of $5.75 and a 200-day moving average price of $7.36. First Foundation has a 1 year low of $3.69 and a 1 year high of $11.47. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.07 and a quick ratio of 1.07.

First Foundation (NASDAQ:FFWM) last issued its quarterly earnings data on Thursday, April 25th. The bank reported $0.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.01. The firm had revenue of $51.07 million during the quarter, compared to analysts’ expectations of $58.93 million. First Foundation had a negative net margin of 32.44% and a positive return on equity of 1.11%.

Institutional Trading of First Foundation

Several hedge funds have recently added to or reduced their stakes in the stock. Diversified Trust Co raised its position in shares of First Foundation by 8.5% in the fourth quarter. Diversified Trust Co now owns 13,946 shares of the bank’s stock valued at $135,000 after purchasing an additional 1,089 shares during the period. Riverview Trust Co bought a new stake in shares of First Foundation in the first quarter valued at approximately $25,000. Empowered Funds LLC raised its position in shares of First Foundation by 8.2% in the first quarter. Empowered Funds LLC now owns 46,380 shares of the bank’s stock valued at $350,000 after purchasing an additional 3,500 shares during the period. Principal Financial Group Inc. raised its position in shares of First Foundation by 22.5% in the fourth quarter. Principal Financial Group Inc. now owns 32,971 shares of the bank’s stock valued at $319,000 after purchasing an additional 6,045 shares during the period. Finally, Quadrature Capital Ltd raised its position in shares of First Foundation by 77.3% in the first quarter. Quadrature Capital Ltd now owns 23,119 shares of the bank’s stock valued at $174,000 after purchasing an additional 10,076 shares during the period. Institutional investors own 73.10% of the company’s stock.

First Foundation Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 16th. Investors of record on Monday, May 6th were issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.78%. The ex-dividend date of this dividend was Friday, May 3rd. First Foundation’s dividend payout ratio (DPR) is presently -1.09%.

First Foundation Company Profile

First Foundation Inc, through its subsidiaries, provides banking services, investment advisory, wealth management, and trust services to individuals, businesses, and other organizations in the United States. The company operates in two segments, Banking and Wealth Management. It offers a range of deposit products, including personal and business checking accounts, savings accounts, interest-bearing demand deposit accounts, money market accounts, and time certificate of deposits; and loan products consisting of multifamily and single family residential real estate loans, commercial real estate loans, commercial term loans, and line of credits, as well as consumer loans, such as personal installment loans and line of credits, and home equity line of credits.